Updated 03 September 2020
The number of British property millionaires leaps to half a million – up by 60% in just one year alone
Yes, despite reports on the property market slowing down this year, the number of British property millionaires is up by 60% this year alone. Mail online reports that the 10 most expensive streets in London have seen their property value surge to an average of £2.8 million, with the most expensive reaching to £42.7million in Kensington Palace Garden, Britain’s most expensive street. Does this prove that the property market is still a good investment? With so many people looking to get on the property ladder mortgage advice has never been so important. What better time to speak to a mortgage adviser!
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The capital’s housing boom may not be finished yet
The Guardian reports that despite recent claims that the property marketing is falling, London is still seeing a steady rise in the housing market, most notably the South East. In spite of the new mortgage lending rules, property market specialist’s report to the Guardian a rise in property investors with prices continuing to increase. This means that the property market is not as bleak as many may have first thought, especially for first time buyers. Mortgage advisers are always the best point of call when thinking about investing or buying a home, find some here and speak to an adviser today.
Parents pay a premium of up to half a million pounds to live near one of England’s top state schools
If parents want their children to attend the best secondary schools, they may have to pay a premium of up to half a million pounds. A recent study discovered, homes become more expensive when located close to a top school. Mail online used the example of Beaconsfield High School in Buckinghamshire, ‘where the average price of nearby properties is £797,000, compared with £314,000 in the rest of the county.’ With schools favouring pupils living close by, it is no wonder that there are high premiums near the countries best schools. So if you are keen to ensure your children are in the catchment area of some of the best state schools you may need to consider if you can afford the property premium attached with them. Speaking to a financial adviser or mortgage adviser will be able to help in your planning.
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